Gold Mining Benefit God: Bitcoin Analysis on October 21, how much further can the continuous rise go?

CN
2 months ago

Preface

Investing often favors building positions to achieve significant profits, but it also increases risk with each additional move. Do not fantasize that every trade will always be perfect; gains and losses need to be balanced, and one must feel both the wins and the losses. Investing in the market is like traveling; it is always a hurried journey filled with confusion and hesitation. Only by calming down can one clear the fog that obscures the view; quietly savoring a cup of tea reveals that many opportunities are right in front of you. Do not always think of money as something to be easily picked up; maintain a clear mindset to analyze and operate more steadily.

Trading Mindset

  1. When building and closing positions, never let anyone miss precise points to maximize profits.

  2. Never predict market trends; the market is ever-changing and beyond our control. Following the trend is the way to go.

  3. Only by seizing the initiative can one gain an invincible advantage; strict stop-loss and take-profit measures are essential.

  4. Provide the best risk control for each friend's position, firmly resisting heavy and full positions.

The biggest difference in investing compared to our daily lives is that many people take life one step at a time, but this approach does not work in investing. The investment market is constantly changing; whether you have already made a move or are temporarily observing, you must plan your next step, even the next two or three steps. This way, even if we operate in the opposite direction, we can withdraw in time and avoid getting trapped with tied-up funds.

Philosophy

In our world of investing, sometimes you must recognize yourself and the current market trend. Do not think that you are the most important; the market will not align with your wishes. What you need to do is follow the major trend and seize your share of the profits, exiting the market in the short term without greed or fear. If you achieve this, you will be your own winner!

10.21 Bitcoin Analysis

Yesterday closed with a small bullish candle, and today opened with a rise. After reaching the upper high of 69527, it began to rapidly decline, showing short-term topping signals. From the weekly closing perspective, the current upward space at the weekly bullish top is not very large. The large bullish candle did not lead to an upward opening of the entire weekly Bollinger Bands, and the upper band is near the previous high point, forming resistance around 70600.

Additionally, the short-term four-hour chart's Bollinger Bands did not open with this bullish rise; instead, they continued to narrow, indicating that the bullish momentum during the day is not very strong. The daytime is likely to see a rise followed by a decline, so it is recommended to short first and then go long.

10.2 Bitcoin Trading Strategy Reference

Weekly trading strategy reference for Bitcoin: Enter a short position in the trend at 70500-71000, with a stop loss at 71500 and a target of 68500-66500.

Daily trading strategy reference for Bitcoin: At the current price of around 69400-69500, a short position can be entered with a small stop loss at 69880, aiming to exit in batches at 68600-67200. [If the stop loss is hit, continue to set up for a weekly short position.]

For intraday long positions, first observe the strength of the market pullback:

  1. If it pulls back to around 68600 and stops falling, or if it oscillates around 68600 in the afternoon, it indicates that it cannot drop further, and a light long position can be entered.

  2. If it breaks below 68600 during the day, then consider entering long around 67000.

Conclusion

Capital is a complete system that includes investment philosophy, investment mindset, capital management, risk control, investment strategy, and operating systems. A properly functioning investment system requires a professional team, complete systems, and scientific processes. The profit from one or two trades cannot help you achieve much, but operations backed by a mature team can lead to profits and help you obtain what you desire!

What we need to do is to protect our profits! Do not be greedy for large gains; be content with small profits, follow the teacher's points for operation, and we can quickly enter and exit for short-term profits. This is also the best approach for our current operations!

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